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Digital Twins: Virtual Simulations that Help Answer ‘What If’ Scenarios
Digital twins are virtual representations of a system or object that model the characteristics and behaviors of the real system. For example, a digital twin could be made that corresponds to a building, an airplane, the power grid, or a city. Digital twins can help researchers model and analyze systems and study how a complex system might respond to different environmental changes or stimuli. Digital twins are particularly useful when studying things like performance, reliability and security.
Roshan Gya, Capgemini Global Head of Intelligent Industry, said that “by bridging the ‘physical-digital’ gap … digital twins offer a unique opportunity for organizations looking to accelerate their journey towards intelligent operations while increasing profitability and enabling a sustainable future.”
A report by CapGemini found that companies are increasingly using digital twins to help them more efficiently utilize resources and optimize processes like logistics.
The research firm MarketsandMarkets estimates that the global digital twin market will grow at a rate of 58 percent, reaching $48 billion by 2026.
The CapGemini report found that “digital twin deployments are being driven by both top and bottom lines, as well as safety, sustainability and brand reputation. Organizations working on digital twins have already seen, on average, a 15% improvement in metrics such as sales, turnaround time and operational efficiency, as well as an improvement upwards of 25% in system performance.”
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[…] value through advanced analytics,” Bain Brief, 11 February 2015. [4] Dick Weisinger, “Digital Twins: Virtual Simulations that Help Answer ‘What If’ Scenarios,” Formtek Blog, 4 January 2023. [5] Stephen DeAngelis, “Digital Twins and Phygital […]